Spain’s Hope For Unemployed Pension-gap Generation

Hope for unemployed pension-gap generation

LONG-TERM unemployed people who face losing out on pensions may be able to claw contributions to plug the gap in retirement funds.

Jobless people in Spain aged between 35 and 43 years who have been out of work for more than three years during the last financial crisis could recover two years of contributions so their pension allowance won´t be lost.

Government ministers are drawing up the plan which they aim to approve in time for the General Election campaign.

The proposal applies to those who have had a gap in contributions of at least three years between October 2, 2008 and July 1, 2018.

Contributions will be calculated exclusively for the purpose of permanent disability and retirement benefits.

Those who have reached 44 years of age within the three months of the scheme being introduced will be included.